Envestnet Asset Management Inc. Acquires 117,454 Shares of Chewy, Inc. (NYSE:CHWY)

Envestnet Asset Management Inc. lifted its holdings in shares of Chewy, Inc. (NYSE:CHWY) by 243.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 165,662 shares of the company’s stock after purchasing an additional 117,454 shares during the period. Envestnet Asset Management Inc.’s holdings in Chewy were worth $4,513,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter valued at $33,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Chewy during the 2nd quarter valued at $44,000. First Horizon Advisors Inc. bought a new position in shares of Chewy during the 2nd quarter valued at $48,000. Skylands Capital LLC bought a new position in shares of Chewy during the 2nd quarter valued at $52,000. Finally, nVerses Capital LLC bought a new stake in Chewy in the 2nd quarter worth $90,000. Institutional investors own 93.09% of the company’s stock.

Insider Activity at Chewy

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chewy news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The disclosure for this sale can be found here. Insiders sold a total of 26,888,627 shares of company stock valued at $790,397,620 in the last three months. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CHWY. Bank of America raised their price target on shares of Chewy from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Royal Bank of Canada raised their price target on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Mizuho raised their price target on shares of Chewy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Finally, Barclays raised their price target on shares of Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.11.

Chewy Price Performance

Shares of NYSE CHWY opened at $29.36 on Wednesday. Chewy, Inc. has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a market cap of $12.77 billion, a P/E ratio of 163.11, a price-to-earnings-growth ratio of 2.98 and a beta of 1.04. The firm has a 50-day moving average of $27.10 and a 200 day moving average of $22.49.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Research analysts expect that Chewy, Inc. will post 0.32 earnings per share for the current fiscal year.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.